Renaissance Technologies LLC Has $16.82 Million Stake in EPAM Systems, Inc. (NYSE:EPAM)

Renaissance Technologies LLC reduced its position in shares of EPAM Systems, Inc. (NYSE:EPAM) by 40.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,398 shares of the information technology services provider’s stock after selling 61,328 shares during the quarter. Renaissance Technologies LLC owned 0.15% of EPAM Systems worth $16,817,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of EPAM. ORG Partners LLC grew its holdings in shares of EPAM Systems by 5,000.0% during the second quarter. ORG Partners LLC now owns 153 shares of the information technology services provider’s stock valued at $28,000 after buying an additional 150 shares in the last quarter. Riverview Trust Co acquired a new stake in EPAM Systems during the 1st quarter worth about $29,000. Opal Wealth Advisors LLC purchased a new position in EPAM Systems during the 2nd quarter valued at about $29,000. Principal Securities Inc. purchased a new stake in shares of EPAM Systems in the fourth quarter worth approximately $43,000. Finally, Whittier Trust Co. acquired a new stake in shares of EPAM Systems during the first quarter worth approximately $64,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

EPAM Systems Stock Down 0.5 %

Shares of EPAM stock opened at $197.00 on Friday. EPAM Systems, Inc. has a 12 month low of $169.43 and a 12 month high of $317.50. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.01. The firm has a market cap of $11.42 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 4.48 and a beta of 1.45. The stock has a 50 day moving average of $203.20 and a 200-day moving average of $217.16.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, August 8th. The information technology services provider reported $2.45 EPS for the quarter, beating the consensus estimate of $2.26 by $0.19. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. EPAM Systems had a net margin of 8.86% and a return on equity of 14.31%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.21 EPS. On average, equities analysts predict that EPAM Systems, Inc. will post 8.06 EPS for the current year.

EPAM Systems declared that its board has approved a stock repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the information technology services provider to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

EPAM has been the topic of several research reports. Jefferies Financial Group increased their target price on shares of EPAM Systems from $237.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. The Goldman Sachs Group started coverage on EPAM Systems in a report on Monday, June 24th. They set a “neutral” rating and a $200.00 price objective for the company. StockNews.com upgraded EPAM Systems from a “hold” rating to a “buy” rating in a research note on Monday, September 16th. Itau BBA Securities raised EPAM Systems from an “underperform” rating to a “market perform” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. boosted their price target on EPAM Systems from $222.00 to $262.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, EPAM Systems has a consensus rating of “Moderate Buy” and an average price target of $258.32.

About EPAM Systems

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.